Sentiment – NAHB Home Builder Optimism Index U.S. home builder sentiment improved for the fourth consecutive month in April, which is good news for the housing market. Image: The Daily Shot

Net % of FMS Investors Overweight U.S. Equities vs. Bonds FMS relative positioning in stocks vs. bonds remains low. Image: BofA Global Fund Manager Survey

U.S. Real Rates U.S. real rates remain above the 20-year average. Image: J.P. Morgan

U.S. Dollar and U.S. vs. Emerging Market Stocks When the U.S. dollar is weak, emerging market stocks tend to outperform U.S. stocks. Image: BofA Global Investment Strategy

Volatility and Macro Variables Macro variables pointing to a decrease in rates volatility are good news. Image: Goldman Sachs Global Investment Research

Recessionary Bear Markets – S&P 500 Total Return Recessionary bear market lows can present good buying opportunities for long-term investors. Image: BofA Research Investment Committee

Volatility – VIX and U.S. 1-Year Sovereign CDS The U.S. debt ceiling circus could lead to volatility in financial markets. Image: Goldman Sachs Global Investment Research

Bottom-Up S&P 500 EPS Revision Will the earnings season drive the S&P 500 up or down? Image: BofA US Equity & Quant Strategy

Fed Funds Rate vs. Recessionary Bear Market Lows Fed rate cuts are historically not bullish for the S&P 500. Image: BofA Research Investment Committee

Secular Bull Markets vs. Secular Bear Markets – S&P 500 / Gold Despite occasional market fluctuations and concerns about overvaluation, the S&P 500 is still in a secular bull market. Image: Morgan Stanley Research

U.S. Commercial Banks and Savings Institutions Interest Income from Earnings Assets vs. U.S. Fed Funds Rate Does it really make sense to keep raising interest rates if U.S. commercial banks can’t survive with the current…